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BTC BEARISH ORDERBLOCK DAY 2Hey traders, Recap-I decided to make an update on my BTC analysis from yesterday, as some things have changed. BTC bounced and went up to reject our bearish order block as I had predicted, and then went to test it again where it price was rejected lower again. I believed that price would make a sharper move downward, but today noticed that that price was rejecting the green level, because of a bullish orderblock created on June 27. I still believe that BTC will move much lower as the previous order is most likely already mitigated and we have multiple lower timeframe imbalances indicating that we want to be bearish. This analysis is probably my most in depth so far, and I would appreciate any feedback. Like and follow for more detailed analysis and updates, and as always happy trading!
Short
by TRADE_SNIPES
2
USDJPY setting myself ready for the new yearGartley Advanced formation Tools: *Fibonacci retracements (61.8% and 78.6%) *Fibonacci extension (127.2%) Timeframes: *The Gartley Advanced formation was originally designed as a swing trading strategy. But it also works on lower timeframes. Tactics: *Seek to identify 4 market moves and 3 major Fibonacci zones. The combination of these moves forms the points (X, A, B, C, D) that fulfill the formation. Rules of engagement: Criteria 1 The Gartley Advanced formation starts with a market movement/impulse leg that establishes our X and A points. Once X and A points have been identified, we then look for our first criteria. Criteria 1: The market forms the B completion point by fulfilling at least a 61.8% retracement of the XA leg. Note: AB move remains valid as long as there is at least a 61.8% retracement of XA and that it does not touch the 78.6% retracement of XA. Only candlewick is calculated here. Candle close is not important. Rules of engagement: Criteria 2 If criteria 1 has been met, then look for criteria 2. Criteria 2: The market forms the C completion point by fulfilling at least a 61.8% retracement of the AB. Note: BC move remains valid as long as there is at least a 61.8% retracement of AB and that it does not touch the 88.6% retracement of AB. Only candlewick is calculated here. Candle close is not important. Rules of engagement: Criteria 3 If criteria 1 and 2 have been met, then look for criteria 3. Criteria 3: The market forms the D completion (entry point) by fulfilling a 127.2% extension of AB. Note: D point never extends past X. Trade management: Entry, stops & targets. Entry: Limit order is placed at D completion point. Target 1: 38.2% retracement of AD leg. When attained half of the position closes & stop moves to breakeven. Target 2: 61.8% retracements of AD leg. Stop placement: Stop always goes past X. Either 113% XA extension, or 1 ATR beyond X, or 1 to 1 measured distance to the first target.
Short
by Alexander_Nikitin
4
FIBONACCI CLUSTER TRADE: 1.618 INVERSION at STRUCTUREHey Traders, as i walked through my pre market analysis, this setup caught my attention. I firstly identified the structure on the daily timeframe for a possible trend continuation to the downside. I then switched to a lower timeframe and identified the double top, with fibonacci confluence and bearish divergence on the rsi. We've got a retracement, an extension and an inversion. This is just for educational purposes to show how fibonacci level can interact with structure. Website: www.ogtpartners.com Twitter: goo.gl Facebook: goo.gl
Short
by WirmachenTrader
Thoughts about BAT pattern. Some tips and secrets. Part XIII.Hey, traders. Welcome back to another edition of "thoughts about BAT pattern". Today we'll continue to discuss bat pattern types. We already know about Four types: HSNSP see it here: SNSP see it here: HSFSP see it here: SFSP see it here: These four have two common features. Their CD leg is not interrupted by a retracement more than 0,382AB and their A and B points don't form a double top/bottom. Today we'll take too more types: HSNSI and SFNSI. All the features and notes are drawn on the chart. Here I will only give some statistics. As usual I will first remind the avarage success rate of bats for eurusd, gbpusd and audusd. By success rate I mean the probability of price action to hit 0,382AD BEFORE 1,113XA. It is critical! So, average success rate for bats: On eurusd it is 53,52%, gbpusd – 52,39%, audusd – 51,53%. We have these results if we trade ALL the bats we can find. I’ve been testing HSNSI and HSFSI on M5 TF on 4-year period data and got the following features (I will only talk about eurusd , gbpusd and audusd as examples): Frequency: HSNSI: On eurusd I found 47, on gbpusd – 60 and on audusd – 67. One of the most frequent types) HSFSI: On eurusd I found 42, on gbpusd – 25 and on audusd – 38. Less frequent type. Success rate: HSNSI: On eurusd it is 48,93%, on gbpusd – 55%, on audusd – 47,76%. HSFSI: On eurusd it is 47,61%, on gbpusd – 60%, on audusd – 36,84% As you see this pattern has more than average success rate on gbpusd and less than average success rate on eurusd and on audusd . Trading this type on gbpusd and not trading it on eurusd and on audusd is a way to improve trading. Ok, mates. That is all for today. Next time I will explain SNSI and SFSI. If you find the information interesting – click “thumb-up”. If you don’t want to miss the next edition – subscribe. Hope to see you again.
Education
by Alexander_Nikitin